Adani firms back on track with huge rise in share prices

Goutham Adani has been in news since the US short seller HIndenberg research had released a report about invalid ways of funding in to the Adani firms. The Adani firms shares had a huge dive in values along with the Banks and other financial institutions which have invested funds in Adani groups like SBI, Bank of Baroda , LIC etc… This has given a huge opportunity for the opposition parties to target the Indian Prime minister Narendra modi about alleged nexus between him and the Businessman Adani. Oppositions questioned if the Prime minister is protecting the Tycoon who is alleged to have committed financial frauds through shell companies abroad. All the Adani group shares have seen sharp fall since two weeks.

However, the things looking quite positive for the India’s richest man (a week ago ) as on Tuesd the share prices of all his companies have started getting on to the track. Adani ports and Power have seen some stability in between the days but all other share prices have only been negative since the Hindenberg report arrived. But , Tuesday had witnessed a sudden change in the rally. Almost all the Adani firms have seen rise in their share values.

This is really a disappointment for the opposition parties like congress , TMC and BRS as they have been extensively trying to bank on Adani incident tweeting almost every hour about the public and govt organisations losing money due to Adani. But this sudden rise has given a shock to many politicians in the country. This would be a huge set back for the oppositions who are about to face elections this year in many states if the Share prices of all the firms of Adani group rise back to the normal levels of before Jan 2023.